However, finding a good opportunity tends to leave at least some cash floating around. Aside from dumping it into a placeholder stock like BRK.B, moneymarket, etc. I am interested in utilizing, to some small degree, daytrading.
Basically:
(1) How is risk managed in security day trading? Forex trading?
(2) Do the few successful traders operate by intuition or determinism?
(3) How wide of a scope to most traders take? Ten stocks? One hundred? All of them? Similarly, how wide of a scope do forex'ers employ?
(4) Is there a way to get a hold of raw market data, outside of the wacky software like eSignal, etc?
Please do not try and pitch a trading system. Thanks.
A Free Basic Hands-on Training is available at http://finance.groups.yahoo.com/group/currencytrader/.
My advice is to go for delivery based trading as its safe for beginners.
You can contact any institution providing on-line share trading for opening a trading account.
Forex market or Foreign Currency Exchange market is one of the biggest trading market in the world with over USD 1.3 Trillion traded in a day. It is drawing attention ever since it is open to Online trading. Forex trading can be very profitable if you take your time to do a proper research, understanding various options and choose a system that works for you. The most used Forex trading system may not be the most suitable for your needs.
There are many different kinds of Forex Trading Systems and you need to know a few facts as mentioned below, before choosing and funding a system.
1. Testimonials: Is there anyone out there who is trying to sell a system and show you testimonials from the people who actually didn't like the system? Highly unlikely. You should do proper research before indulging into a system that is completely new to you.
2. Profit: Do you want to work with a Forex Trading system that breaks even? Why? If you keep the money in your home, you will still break even, then why take all the hassles of setting up an Forex Trading account and do all the work. Really speaking, you should always do some research on how profitable a particular trading system is?
3. Drawdown: The maximum drawdown of trading system is defined as the greatest peak-to-valley drawdown in a trading system’s equity. Maximum drawdown gives us a measure of the survivability of the trading system.
4. Time to profit: The actual time it takes to achieve the results with a particular trading system. You should plan to have a long and profitable relationship with your trading system.
Try to use a trading system that let you open a Demo account so that you can practice and learn about Forex Trading without risking any money.
I have tried many of these systems in my quest to simplify my trading experience. I personally have found FreedomRocks to be the system that has worked for me. I have found no bad information on this system from anybody that has actually used it. I have found many skeptics and bashers but nothing from those that have actually tried at least the free trial they offer.
Below are a couple of links I have found in my travels around the web:
http://www.yourforexinvestor.com
http://www.babypips.com
Now as far as how much money you would need to gat started I have helped people get started with amounts ranging from $500 up to well over six figures. If you would like I could send you a spreadsheet of how to get started right with just $500 invested on a monthly bugeted basis. The spreadsheet will show you how that investment could easily grow to well over $240,000 within 60 months! Feel free to e-mail me and I will get that right over to you.
bjwells@yourforexinvestor.com
To Your Success,
Brandon Wells
877-773-5345
Also, one that you don't need a lot to invest with, I'm a poor college student so I have less than $10,000 to invest.
I am new to investment. So just wanna know which franchisee is the best for online trading?
Few days back I met with Reliance Money salesman and he was telling me about there very less brokerage and other benefits. But I don't know much about Reliance Money and their Service.
Please advise.
Thanks
indiabulls
religare
motilal oswal
sharekhan
india infoline
i have my a/c's in religare and indiabulls….but i find religare better.
And what do the different types of trades mean? ie, short order, stop order, margin order, etc… I've read deffinitions but I'm still not clear on what exactly some of them are.
Reccomened online trading/day trading site to get started?
I dont have an option to buy 1000 shares say at a limit price. i dont know about kotak.
can anyone help me on this.
Also i face another problem with icicidirect.
That is accessability – i cannot access the site many times. especially when the market is volatile. pages takes many minutes to appear. website is very slow. login screen itself takes too much time. That problem i faced with icicidirect. i am fed up with them so i am looking for a new broker.
Any advices. how is kotak?
Answer to your question, you search for all different brokers and decide
icicidirect.com
hdfcsec.com
sharekhan
oswal
kotak
geojit
…
It is not a casino. It requires a good deal of knowledge, and requires the trader to have nerves of steel and be very nimble, in and out quickly, not afraid to take a loss.
At your age, you can start by learning about business and the stock market, and you need to save up some pretty good money.
No special equipment is required. Trade from your computer at home with an on-line discount broker.
Inability to See or Act Upon Quotes. Some firms only allow investors to view quotes from the one trading system the firm uses for after-hours trading. Check with your broker to see whether your firm's system will permit you to access other quotes on other ECNs. But remember that just because you can get quotes on another ECN does not necessary mean you will be able to trade based on those quotes. You need to ask your firm if it will route your order for execution to the other ECN. If you are limited to the quotes within one system, you may not be able to complete a trade, even with a willing investor, at a different trading system.
Lack of Liquidity. Liquidity refers to your ability to convert stock into cash. That ability depends on the existence of buyers and sellers and how easy it is to complete a trade. During regular trading hours, buyers and sellers of most stocks can trade readily with one another. During after-hours, there may be less trading volume for some stocks, making it more difficult to execute some of your trades. Some stocks may not trade at all during extended hours.
Larger Quote Spreads. Less trading activity could also mean wider spreads between the bid and ask prices. As a result, you may find it more difficult to get your order executed or to get as favorable a price as you could have during regular market hours.
Price Volatility. For stocks with limited trading activity, you may find greater price fluctuations than you would have seen during regular trading hours. News stories announced after-hours may have greater impacts on stock prices.
Uncertain Prices. The prices of some stocks traded during the after-hours session may not reflect the prices of those stocks during regular hours, either at the end of the regular trading session or upon the opening of regular trading the next business day.
Bias Toward Limit Orders. Many electronic trading systems currently accept only limit orders, where you must enter a price at which you would like your order executed. A limit order ensures you will not pay more than the price you entered or sell for less. If the market moves away from your price, your order will not be executed. Check with your broker to see whether orders not executed during the after-hours trading session will be cancelled or whether they will be automatically entered when regular trading hours begin. Similarly, find out if an order you placed during regular hours will carry over to after-hours trading.
Competition with Professional Traders. Many of the after-hours traders are professionals with large institutions, such as mutual funds, who may have access to more information than individual investors.
Computer Delays. As with online trading, you may encounter during after-hours delays or failures in getting your order executed, including orders to cancel or change your trades. For some after-hours trades, your order will be routed from your brokerage firm to an electronic trading system. If a computer problem exists at your firm, this may prevent or delay your order from reaching the system. If you encounter significant delays, you should call your broker to determine the extent of the problem and what you can to get your order executed.
So in a nutshell depending on your broker you may not be able to sell overnight. If everyone is trying to sell then there may not be enough buyers to actually fill all the orders. You have to ask your broker for the information that specifically pertains to you and the after hours policy.